CAE (CAE) reported that its net profit rose 178% last quarter as its revenues increased sharply
from a year earlier.
The Montreal-based flight and health simulation company said it earned $55.1 million or $0.17
per share in its fiscal fourth quarter, up 178% from $19.8 million or $0.07 per share a year
earlier.
CAE’s revenues for the three months ended March 31 totaled $955 million, up 7% from $894.3
million a year ago. However, revenues were up 25% excluding the contribution from ventilators
sold to help manage COVID-19 infections across Canada.
The company was expected to earn $0.24 a share in adjusted profits on $958.1 million in
revenues, according data from Refinitiv.
CAE’s operating income increased 43% to $58.1 million, an 11% increase in revenues, while
defence and security swung to a $25.8 million profit on a 40% boost in revenues.
The company’s healthcare division's operating income fell 40% to $9.4 million as revenues
slumped 69% without the $130 million contribution last year from ventilator sales to the
Government of Canada. Revenues rose 27% excluding ventilators.
For its full fiscal year, CAE earned $141.7 million on $3.37 billion of revenues, compared with a
loss of $47.2 million on $2.98 billion in 2021.
CAE stock is down 4% year to date at $31.59 per share.
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